Internet Market Close Report for 1998.03.17

ISDEX & Market Moves



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  • CyberCash (NASDAQ:CYCH) tries to move into a more diversified digital payment market as it agrees to merge with PC-based cash register firm ICVERIFY for $16 million in cash and 2.3 million shares of CYCH common. ICVERIFY’s NetVERIFY, a software payment solution for Internet merchants, also factored in the deal. CYCH shares gain on the news, bringing the total deal value to $57 million based on today’s close. Maybe CYCH can find a place in the new world after all?

  • Mecklermedia (NASDAQ:MECK) reports its fifth annual Spring Internet World ’98 trade show held last week at the Los Angeles Convention Center drew about 50,000 Internet-focused professionals as 600 companies paid for and filled 300,000 square feet of exhibit and meeting space to showcase the latest Internet business solutions.

    Our view from the floor was the Internet is where all the big technology corporations are moving for growth and viability in a global networked economy. That’s the essence of how widespread the Internet now is for business to business.

  • ONSALE (NASDAQ:ONSL), the Web auction retailer, says more than four million bids have been placed on its site at since its launch in May 1995. We’ve always believed that ONSALE’s real-time auction model may be the best application of Internet commerce to date. Combining computing power with the Internet’s global reach for selling goods is powerful. We see ONSALE’s model as more indicative of the possible future of much of e-commerce across many realms, not just computers and gadgets. Bid and ask. Efficient markets. Jerry Kaplan’s done a great job there getting this one to market leader status. Also helping, Kleiner Perkins who backed the whole thing. But that’s ancient history in Internet years….

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